Swing Reader MT5v

With the Swing Reader, you can easily read the Elliott Wave Principle through an automatic system. With swing, we mean a ZigZag market that is created by a breakout of its standard deviation. You can set the deviation manually, or you can let the indicator do it automatically (setting the deviation to zero).

Advantages you get

• Never repaints.
• Points showing a horizontal line, in which statistically a long wave ends.
• Candles showing a vertical line in which statistically a long wave ends.
• A horizontal line created using average points composing statistically short waves.
• A horizontal line created using average points composing statistically long waves.
• Possibility to optimize the indicator for each timeframe.

Above on the right, you will find very important information concerning the market movement:

• Long Waves Average Time: number of candles composing statistically a LONG wave.
• Short Waves Average Time: number of candles composing statistically a SHORT wave.
• Long Waves Average: points composing statistically a LONG wave.
• Short Waves Average: points composing statistically a SHORT wave.
• Last impulse: If there is a long impulse, it means that the last long wave is bigger (in points) than the last short wave; if the impulse is short, it is the opposite.

Inputs

• Deviation: Set your standard deviation to calculate the swing (if set to zero, the indicator will choose for you the standard deviation).
• Average Method: Choose your favourite method to calculate the averages that you will find above on the right. You will have two options at your disposal:
1. Simple: Arithmetical average.
2. Linear Weighted: An average weighted by the latest waves (newest waves are more important!!).
• Bulls Color: Choose your favourite color for long waves.
• Bears Color: Choose your favourite color for short waves.
• Swing Width: Choose your favourite waves width.

Notifications Settings

• Use Alert: If true, indicator will send you alerts.
• Use Mail: If true, indicator will send you e-mails.
• Use Push Notifications: If true, indicator will send you push notifications.